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Under Armour Loses Its Footing

Footwear was going to reinvigorate the brand, but shoe revenue is heading in the wrong direction.
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Under Armour Tumbles on North American Weakness

Under Armour Inc. was betting it could dance with Nike and Adidas at the hot sneaker prom. It was not to be.

The sports clothing label reported a 2 percent decline, to $237 million, in footwear revenue for the quarter, compared with a 58 percent jump over the same period in 2016. Those numbers are a bigger disappointment than they sound, since in recent years the brand has sought to sharpen its image with a sexy sneaker lineup that would draw shoppers away from rivals. Looking to regain its swagger by finding growth—especially in its important sneaker business, Under Armour has been left humbled.